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Revenues in the third quarter of 2009 were $8.4M, a decrease of 9% as compared with $9.2M in the previous quarter.

Operating profit in the third quarter of 2009 was $0.1M, as compared with operating profit of $0.7M in the previous quarter.

Net profit in the third quarter of 2009, not including transaction related costs associated with the definitive merger agreement signed between Mentor Graphics and Valor, was $0.3M, as compared with net profit of $1.1M in the previous quarter. Positive cash flow from operating activities during the quarter accumulated to $0.3M.

Revenues in the first nine months of 2009 accumulated to $26.6M. Operating profit during that period was $1.5M, and net profit was $2.2M, not including transaction related costs associated with the definitive merger agreement signed between Mentor Graphics and Valor.

The company has increased its cash position by $1M to $28.3M during the three months ended September 30, 2009.

* Including transaction related costs associated with the definitive merger agreement signed between Mentor Graphics and Valor, accumulated to $0.25M as of September 30, 2009.

Some of the following statements are forward-looking in nature, and actual results may differ materially:

Referring to the financial results, Dan Hoz, Valor’s CEO said: “Valor managed to show profitability and an increase in cash position despite Q3 being a traditionally weaker quarter, especially in a challenging year such as this. So far, on an accumulative basis, our operating and net profits have met and even exceeded our expectations. We are also happy to see the continuous increase in cash position.”

“The positive trend in the assembly market and in the Far East that we began to see in the previous quarter has manifested in strong business this quarter. We are also continuing to develop our OEM business, and have recently joined forces with Philips Electronics (Assembléon), to bring full factory integration to Assembléon’s pick and place equipment and deliver a complete suite of software and tools for the electronics assembly marketplace, in a first of its kind industry partnership”, Hoz added.

On October 13, 2009, Valor announced the signing of a definitive merger agreement for the acquisition of Valor by Mentor Graphics. Under the terms of the agreement, which was approved by the boards of directors of both companies, Valor shareholders will receive a combination of Mentor Graphics common shares and cash for aggregate consideration equating to approximately $4.60 per Valor share. Subject to satisfaction of regulatory requirements and approval of Valor shareholders, as well as certain closing conditions, the transaction is expected to close during the first calendar quarter of 2010, after which Valor will become a wholly-owned subsidiary of Mentor Graphics.

The complete financial report can be downloaded from the Investor Relations section on the Valor corporate website: www.valor.com

Risks Regarding Forward Looking Statements Certain statements included herein are forward-looking in nature and, accordingly, are subject to risks and uncertainties. Such forward-looking statements include statements regarding the size and timing of the proposed offering. These forward-looking statements are only predictions based on our current expectations and projections about future events. Many factors, including those indicated in the press release, as well as general market conditions, could impact the realization of these forward-looking statements. Valor wishes to caution prospective investors not to rely on any such forward-looking statements as predictions of future events. Valor does not undertake, and specifically disclaims any obligation, to update any forward-looking statements, which speak only as of the date made.